Heller Buys Spring Garden Ranch for $1.65M

Heller was one of 18 bidders at the outdoor auction, 40 miles north of Downtown Orlando. Heller couldn't be reached for comment. But brokers who have worked with him in the past tell GlobeSt.com the 46-year-old retired Winter Park, FL millionaire expected Orlando area developer representatives to easily outbid him.

Heller bought the 54-year-old, former dairy farm from Anthony and Jeannette Basile who sold the property because they are retiring at age 70. The Basiles purchased the ranch in 1989 for an undisclosed sum. Saratoga Standardbred Inc., which has managed the property since 1986, will continue to operate the asset for Heller. He has told associates he has no plans to convert the site to a commercial-industrial-residential development.

Land brokers familiar with the Volusia County industrial submarkets tell GlobeSt.com the 148-acre property has a potential development value of at least $7.4 million or about $50,000 per acre. Spring Garden Ranch has a restaurant, lounge and a recreational area with a pool, tennis, basketball and raquetball courts.

The ranch has 19 modernized barns that can house 650 horses; a one-mile U.S. Thoroughbred Association-sanctioned race track that is the widest in the industry; another half-mile race track; a tack shop; and 75 turnout pastures.

Spring Garden's Web site claims it is the largest training site for standardbred horses in North America. The ranch has produced numerous world champions and hundreds of stakes winners, including three Hambletonians and 18 Breeders Crown winners, along with 32 current world records. Spring Garden-trained horses in the last two seasons have grossed $15 million in race earnings, according to the Web site. World champion Gallo Blue is among the recent barn residents.